The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-04-05
CONDITION OF THE MARKETS
Avery Dull Day in Wheat, Owing to an
Absence of Orders from Outsiders.
Light Inquiry for Corn, but the Market
Maintains Steady Tone with but Slight
Changes-Lisht Transactions in Pork.
MONEY, BONDS AND STOCKS.

An Active and Strong Market, the Coal Stocks
Being the Principal Feature.
NEW YORK, April Mooney on call loaned
At4 a. per cent, the last loan being made at 6,
closing offered at ).
Prime mercantile paper. 81 a 81 per cent
Sterling exchange was dull but steady at
u S4s for 60day bills and ST. 863 for demand.
The total sales Of stocks to-day were 5G0,772
shares, including the following Canada South
ern. $500; Chicago, St. Louis & Pacific pre-
ferred 1866; Delaware. Lackawanna g. West
ern, G, 500; Erie 4s, 565; Kansas & Texas. $780,
Lake Shore, % 1885, Jersey Central, &c, $40; New
York Central, BATS; Louisville & Nashville, 49,
635; Northwestern, S,310; Ohio Sc Mississippi
5,425; Pacific Mail, 4,2lO; Reading, 169,6 6O; ST.
Paul. 43, FOL; St. Paul & Omaha. 6, 40; Texas
Pacific, 4,400: Union Pacific $780, Western
Union, Il, 600
The new week at the Stock Exchange opened
with an active and strong market and with the
coal stocks the particular feature A free buy
Ing movement took place. which included opera
lions for both foreign and local spectators,
who, with great unanimity, were in favor of a
general advance. There were few purchases for
outside investors, and the buying still partook
of the professional character which has distin-
guished the trading for so long time. Never
theless, the days business the largest 80 far
this year, and the transactions had the appear
ance Of genuine 'bull' movement. The coal
stocks. especially Reading and Jersey Central,
became most conspicuous by reason of their
activity and strength, stimulated by rumor
that a basis of settlement had been agreed
upon between them and that all the
coal companies would work together to
maintain prices. The earnings reported were
an element in creating general confidence,
and the prospects of the transcontinental lines
under the advanced rates also aided in produc
ing this effect The traders INDUCED in extern
slve realizations, but the market received no
support from the leaders, and the gains, in most
cases, were confined to fractions. The opening
was strong, with first prices a. per cent above
the closing figures on Saturday, the latter Pa
cifc Mail. Some fevershness and irregularity
were displayed in the early dealings, but the
market soon became strong under the lead of
Reading and Fort Worth & Denver, to which
was added Jersey Central, later in the day The
advance met with several setbacks. Advances
were confined to small fractions in the general
Hst and general reaction took place before
noon. but later the strong tone reappeared A
slight weakness was noticeable in some stocks
in the last hour. but the market was strong at
the close, generally close to the best figures of
the day. Most of the active list are higher this
evening. Reading is up 2; Jersey Central, II;
Pacific Mail. 1t; San Francisco preferred. l.;
Chicago, st. Louis & Pittsburg preferred, lost
IL, and Hooking Coal, per cent.
Railroad bonds also showed marked increase
in the amount of business done. The sales to-
day were 1921. 600. The most active issues
were Fort Worth g. Denver irsts. with sales of
$206 0C0 and Green Bay incomes. $169 900. The
market was strong throughout and closing prices
almost invariably show advances. noted ex-
ception is Detroit, Bay City & Alpena frsts,
which declined s. to 122; Jersey Central de-
bentures rose to 89i, Hooking Valley fves to
b. Utah Southern extension firsts, 3d. to 90, and
Shenandoah VALLEY general SKIES Al to 424
Both government and State bonds were dull
and steady. Closing quotations were: